This is the first real indication of trouble for the Trump-tech relationship. And cryptocurrency is to blame. A significant amount of President Donald Trump’s 2024 campaign funding came from cryptocurrency executives and investors.
If elected, he pledged to reward them handsomely by cutting regulations and making the United States “the bitcoin superpower of the world and the crypto capital of the planet.”
Starting out quickly, the president pardoned Ross Ulbricht, the creator of Silk Road, and signed an executive order requesting the creation of a working group on digital assets. The SEC ended its years-long investigation into Coinbase as well.
Even though the most outspoken techies who supported Trump’s campaign applauded those actions, some felt that the president went too far over the weekend.
Trump declared Sunday in a post on Truth Social that the United States will establish a strategic crypto reserve that would comprise numerous digital currencies, including ether, XRP, Solana’s SOL token, Cardano’s ADA, and bitcoin.
Source (CNBC)
